PNB
PUNJAB NATIONAL BANK
Max pain for PNB
14 May 2024 04:07 PM IST
Max Pain for PNB is 115
Strike 115 has a total call value of 0 versus a total put value of 0 Combined total value = 0
Strike 117.5 has a total call value of 2,000,000 versus a total put value of 0 Combined total value = 2,000,000
Strike 120 has a total call value of 4,000,000 versus a total put value of 0 Combined total value = 4,000,000
Strike 122.5 has a total call value of 6,000,000 versus a total put value of 0 Combined total value = 6,000,000
Strike 125 has a total call value of 8,000,000 versus a total put value of 0 Combined total value = 8,000,000
Strike 127.5 has a total call value of 66,000,000 versus a total put value of 0 Combined total value = 66,000,000
Strike 130 has a total call value of 124,000,000 versus a total put value of 0 Combined total value = 124,000,000
Strike 132.5 has a total call value of 182,000,000 versus a total put value of 0 Combined total value = 182,000,000
Strike 135 has a total call value of 240,000,000 versus a total put value of 0 Combined total value = 240,000,000
Strike 137.5 has a total call value of 298,000,000 versus a total put value of 0 Combined total value = 298,000,000
Strike 140 has a total call value of 356,000,000 versus a total put value of 0 Combined total value = 356,000,000
Max Pain - Choose a symbol
Index
A
B
C
D
E
G
H
I
J
L
M
N
O
P
R
S
T
What is Max Pain?
Max pain, or the max pain price, is the strike price with the most open contract puts and calls - and the price at which the stock would cause financial losses for the largest number of option holders at expiration.
Calculating Max Pain
Max pain is a simple but time consuming calculation. Essentially, it is the sum of the outstanding put and call dollar value of each in-the-money strike price. For each in-the-money strike price for both puts and calls:
- Find the difference between stock price and strike price
- Multiply the result by open interest at that strike
- Add together the dollar value for the put and call at that strike
- Repeat for each strike price
- Find the highest value strike price. This price is equivalent to max pain price.
How can a trader benefit?
As the option expiration approaches, option writers will try to buy or sell shares of stock to drive the price toward a closing price that is profitable for them, or at least to hedge their payouts to option holders. Call writers sell shares to drive share price down and Put holders buy shares to drive share price up. The max pain strike price exists somewhere in the middle.